Mumbai, Aug. 15 -- Bhavish Aggarwal-led Ola Electric, which makes key product and strategy announcements on the eve of Independence Day every year, on Friday said the company is eyeing a new motorcycle called Diamondhead by mid-2027 that would "revolutionize" the industry, even as it grapples with missed targets, scaled-down ambitions and a volatile stock since its debut last year.

The company aims to deck the motorcycle with its in-house artificial intelligence (AI) chips, battery cells, airbags and new materials, with a target price of Rs.5 lakh. Aggarwal called the motorcycle, which was first showcased as a concept two years ago, Ola Electric's new moonshot project.

"We showed you a concept two years ago. Many people thought it would...